AGL Energy Chief Executive Officer and Managing Director Michael Fraser said the company was delighted it can finally proceed with the acquisition of MacGen.
“With Loy Yang in Victoria and MacGen in New South Wales, AGL will now generate electricity from two of the lowest cost baseload generators in the National Electricity Market,” Mr Fraser said.
The acquisition brings AGL’s share of generating capacity in the national electricity market to approximately 21 per cent and adds to AGL’s diverse portfolio of renewable and thermal generation assets.
Macquarie Generation had previously received approval for two gas pipeline projects, totalling 75 km in length, to supply mine waste methane as supplementary fuel to the Liddell Power Station in 2008, though the project remains on hold.